15 June 2009
There has been an increase in the number of motorists downsizing their vehicles to cut costs during the credit crunch, figures have shown.
Swinton revealed it had experienced a 25% increase in the number of car insurance quotes for small engine vehicles over the last six months.
Furthermore, there was a fall of 20% in the number of quotes for car insurance for vehicles with engines over 1.8 litres.
In addition to this, 81% said the credit crunch would impact their decision when next choosing to buy a car.
"Cars with small engines and no modifications, which also have cheap and easily accessible spare parts, are an ideal choice if you want to keep insurance premiums to a minimum," said Steve Chelton, Insurer Development Manager at Swinton.
Last month, the British Insurers Brokers' Association warned of cutting back on car insurance during the recession and emphasised the need to be fully protected.